Williams Industries, Inc. (WMSI) Announces New Analyst Coverage
PR NEWSWIRE - March 22, 2001 08:15
FALLS CHURCH, Va., Mar 22, 2001 /PRNewswire via COMTEX/ -- Williams Industries, Inc. (Nasdaq: WMSI) today announced that Davenport & Company, LLC, a mid-Atlantic regional investment firm, is initiating coverage of the company with a "Buy" recommendation. Davenport also will be a market maker in the company's stock at the commencement of today's market.
In its analyst report, Davenport said the firm was initiating coverage of Williams Industries based on "the company's strong niche position in the mid- Atlantic region construction, steel and concrete erection markets." The Davenport report set a near-term price objective of $5.50 for Williams' stock, with a longer-term goal of $7-$7.50. The short-term objective, the report noted, is based on the company's estimated "soft" book value and an enterprise value to EBITDA multiple slightly below its peer group average of 5.4 times. |
